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Lumber rises to 4-month high as US disputes Canada pricing

from Bloomberg Businessweek

Lumber futures rose the maximum permitted by the Chicago Mercantile Exchange, touching a four- month high, as the U.S. disputes the pricing of wood imported from Canada, the biggest foreign supplier. British Columbia is "under-pricing" timber from public lands and "circumventing the export measures" in a lumber agreement the two nations reached in 2006, the Office of the U.S. Trade Representative said in a statement dated Oct. 8. The U.S. requested talks to resolve the dispute. Lumber futures are up 30 percent in the past year. more

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